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New Member
posted Jun 4, 2019 11:02:54 PM

Can i deduct the interest on a loan used to buy a second home

I used my current home as collateral to get a loan to buy a second home.  Is the interest on that loan for the second home deductible?

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New Member
Jun 4, 2019 11:02:55 PM

Yes, you can deduct the interest on a loan used to buy a second home.  You can also deduct the amount of real estate taxes paid on the second home.

For further information, please look at the TurboTax link below:

https://turbotax.intuit.com/tax-tools/tax-tips/Home-Ownership/Buying-a-Second-Home/INF12015.html

1 Replies
New Member
Jun 4, 2019 11:02:55 PM

Yes, you can deduct the interest on a loan used to buy a second home.  You can also deduct the amount of real estate taxes paid on the second home.

For further information, please look at the TurboTax link below:

https://turbotax.intuit.com/tax-tools/tax-tips/Home-Ownership/Buying-a-Second-Home/INF12015.html